Guggenheim Capital LLC Decreases Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Guggenheim Capital LLC cut its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 48.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,717 shares of the company's stock after selling 3,551 shares during the period. Guggenheim Capital LLC's holdings in Corpay were worth $1,258,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Corpay by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock worth $2,623,702,000 after acquiring an additional 120,688 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock worth $1,653,659,000 after purchasing an additional 120,578 shares in the last quarter. Boston Partners boosted its position in shares of Corpay by 6.4% during the 4th quarter. Boston Partners now owns 2,045,398 shares of the company's stock valued at $694,847,000 after acquiring an additional 122,380 shares during the last quarter. Geode Capital Management LLC increased its stake in Corpay by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company's stock valued at $584,962,000 after acquiring an additional 54,894 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Corpay by 163.7% in the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock valued at $570,801,000 after purchasing an additional 1,047,080 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CPAY. Raymond James cut their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. Barclays dropped their target price on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Keefe, Bruyette & Woods upped their price objective on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted their price objective on Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Finally, Morgan Stanley raised their price target on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $397.62.

Corpay Stock Up 0.2 %

CPAY stock traded up $0.50 during trading on Friday, hitting $322.39. 207,676 shares of the company's stock traded hands, compared to its average volume of 483,022. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The business has a fifty day simple moving average of $334.94 and a two-hundred day simple moving average of $351.42. The firm has a market capitalization of $22.65 billion, a P/E ratio of 23.06, a PEG ratio of 1.32 and a beta of 1.11. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. Sell-side analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current year.

Insider Buying and Selling

In other Corpay news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the transaction, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by corporate insiders.

Corpay Company Profile

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.